One big splurge was the home we now live in.
That is what we did too. When my husband retired we sold and then leased a small house for a year in the area we wanted to live and it was soon plain downsizing was not going to work for us. My husband who is very budget conscience agreed we needed to splurge on a big house. LIke you said the time spent with our grands and family enjoying the house and yard is worth it.